Want To Become a Scholarship Donor?

Interested in donating funds to the NAPA Research and Education Foundation Scholarship Fund? Creating a named scholarship is a great way to give back to your community, ensure the future of workers for your company, or honoring a loved one. If you would like more information on becoming a scholarship donor, please contact Jennifer Colfelt at NAPAREF at 301-731-4748.

Your contribution will be a catalyst that makes the future a reality. Contributions to the NAPA Research and Education Scholarship Program provide: • An incentive for engineering students to select courses in asphalt technology • A workforce with training in asphalt technology; and • An incentive for colleges/universities to offer training in asphalt technology The NAPAREF Scholarship Program ensures the future of the asphalt industry and that of asphalt as America’s leading choice in paving materials.

Making a Contribution • Funds can be contributed to the NAPAREF scholarship program in a wide variety of ways; Funding options include, but are not limited to: • a lump-sum cash/check/contribution of stocks • any incremental amount may be donated (100; 500; 1,000; 5,000; 10,000; 25,000; 50,000 etc.) • may elect to pay scholarship amount/pledge over a five-year term with annual invoicing. (i.e. a $5,000 pledge pays $1,000 annually for 5 years.) • dedicated insurance annuities/wills/testamentaries. • The NAPAREF Board of Trustees and an investment committee utilizing the services of a professional investment firm oversee investment of the contributed funds

Naming a Scholarship • Individuals or organizations contributing $50,000 or more have the privilege of “naming” a scholarship. “Named” scholarships can immortalized a loved parent, family member, company founder, friend, associated, company, or even the donor. Another advantage of a “named” scholarship is that preference can be given to students attending designated institutions or from states as designated by the donor. • Funding for a named scholarship can come from more than one donor. Donations to the NAPAREF Scholarship Program can be made in any amount. If several donors wish to pull their money together in order to reach the $50,000 funding level required to name their scholarship and designate their institution this can be done.

Funding • Funding of the scholarship program is achieved through the contributions of individuals, corporations, and organizations; the amount of the scholarship will be based on 5% of the September 30th annual Fair Market valuation of the Scholarship endowment as determined by NAPAREF. The number and amount of the scholarship distributed each year will depend upon contribution levels and valuation. • All contributions to the program are tax deductible as determined by the U.S. Internal Revenue Code. • The NAPAREF Board of Trustees and an investment committee utilizing the services of a professional investment firm oversee investment of the contributed funds. Auditing procedures are in place to ensure the system’s integrity. • Annually, funds will be distributed to students as scholarships based on 5% of fair market value of individual scholarship accounts. • If a donor chooses, they may pre-fund or directly fund (give additional money) toward a particular scholarship. Pre-funding or direct funding money shall be used the year it is given to award scholarship money to a selected student.